Hasbro price target raised to $60 from $51 at BofA

BofA raised the firm’s price target on Hasbro to $60 from $51 and keeps a Neutral rating on the shares ahead of the company’s expected Q1 report due on Wednesday, April 24. The firm lowered its Q1 EPS forecast to 24c from 45c to reflect a cut in its consumer products revenue forecast as it sees continued headwinds before new innovation is launched in the second half. However, the firm sees Hasbro setting up for stronger 2025 momentum, citing benefits from a full year of royalties beyond minimum guarantees for Monopoly GO!, a return to growth for Magic: The Gathering, and a return to low-single digit percentage consumer products growth as the toy industry returns to more normalized levels.